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Friday, August 19, 2022

SHTP says to offer multiple incentives to firms

By Minh Hoang

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HCMC – The Saigon Hi-Tech Park (SHTP) in HCMC will focus on calling for investment in the logistics, service, smart warehouse and hi-tech fields in the 2022-2025 period, with numerous incentives to be offered to investors.

Speaking at a conference on promoting investment in the hi-tech park held by the SHTP management board on June 27, Le Bich Loan, deputy head of the board, said several preferential policies on taxes and land rent will be given to firms investing in projects focusing on training, hi-tech production, hi-tech services, hi-tech governance centers, smart warehouses and logistics centers.

When making investment in new hi-tech projects in the park, investors will be entitled to a tax reduction of 10 percentage points in corporate income tax for 15 years.

In addition, firms will enjoy a 10-point reduction in tax rates for up to 30 years if they produce goods with high global competitiveness, earn over VND20 trillion per year, or regularly employ more than 6,000 workers.

Furthermore, businesses whose projects make a positive impact on socio-economic growth, have total investment of over VND3 trillion, or report disbursement of at least VND1 trillion in three years, will be entitled to a cut of 5-9 points in tax rates for up to 37 years and be exempt from tax rates for five or six years.

In addition, investors will be exempt from import tariff on goods for research and the taxes of exporting their hi-tech products.

Also, firms will be entitled to special incentives on land rent.

To improve the investment climate at the park, the SHTP management board will minimize the time and cost of conducting administrative procedures and enhance the application of technology to handling procedures, said Nguyen Anh Thi, head of the management board.

SHTP has issued investment licenses to 163 projects worth a total of over US$12 billion, with US$10.1 billion financed by foreign investors.

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